As per Friday's post, I had decided to wait until this morning to suggest a new short-term inverse ETF trade. Based off the failed rallies in this bear market, I had noted that I would prefer to see the Jan 28th highs not be exceeded, especially on a closing basis. This morning shows a significant gap down indicated and is consistent with the pattern in other failed rallies during May and Sept '08.
So I am going to track a short-term trade on the blog from this morning's open. For anyone already in the current BGZ trade, this trade does not need to be entered, but could be viewed as a completely separate trade. The time frame of this trade would typically be around 1 week.
Recommendation for those interested.....
Buy SDS at today's (Monday) open with a market order. I will use the opening price today for % return calculations.
Pete
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